Solana Beats Robinhood to Lead Tokenized Commodities Trading for the First Time
Solana captured 28% of weekly tokenized commodities spot volume, marking the first time the network has ranked No. 1 across tracked chains.
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For the first time, Solana has become the top chain for weekly tokenized commodities spot trading volume, overtaking Robinhood in the process.
Between September 21 and September 27, Solana recorded $91.1 million in tokenized commodities spot volume, giving it a 28% market share across all chains. Robinhood followed with $81.3 million, representing 25% of the market.
The shift marks a sharp change in Solana's position within the market. Its share of tokenized commodities trading rose from just 5% to 28% in 4 weeks.
Across all chains, tokenized commodities generated approximately $322.7 million in weekly spot trading volume.
Gold Drives Solana's Market
Solana's growing activity comes alongside a sizeable supply of tokenized commodities on the network. The supply reached an all-time high of $50.5 million on August 25 and currently stands at approximately $45.6 million.
Gold remains the dominant commodity on Solana. Paxos' $PAXG leads the market with a $10.89 million circulating supply, followed by xStocks' $GLDx at $10.12 million, Tether's $XAUT0 at $8.98 million, Matrixdock's $XAUM at $6.71 million, and Oro's $GOLD at $2.46 million.
The figures show that gold-backed tokens still account for most of Solana's tokenized commodity supply, though the market has begun to expand beyond gold.
Solana Reclaims DEX Volume Leadership
Solana's momentum extends beyond tokenized commodities. The network also reclaimed the top spot for weekly spot DEX volume after Robinhood briefly claimed the No. 1 position 3 weeks ago. Solana's share has increased each week since, reaching 39% of weekly spot DEX volume last week.
The network has also strengthened its position in memecoin trading. Solana's share of weekly memecoin DEX volume climbed from 51% 3 weeks ago to 80% last week, marking its highest share in 4 weeks. Over the same period, Robinhood's share fell to 13%.
The figures point to a broader resurgence in Solana's trading activity across both tokenized real-world assets and crypto-native markets.
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